Core Viewpoint - Tencent Music (TME.US) has shown significant stock performance, with a pre-market increase of 2.6% and a notable rise of 11.85% in the previous trading session, reaching a new high since March 2021 [1] Financial Performance - In Q2, Tencent Music achieved total revenue of 8.44 billion yuan, representing a year-on-year growth of 17.9%, exceeding market expectations [1] - The adjusted net profit for the same period was 2.64 billion yuan, reflecting a year-on-year increase of 33% [1] Analyst Ratings and Price Targets - Daiwa Securities maintained a "Buy" rating for Tencent Music, raising the target price from 85 HKD to 105 HKD [1] - The firm forecasts a 15.7% annual growth in subscription revenue by 2025, driven by continuous content upgrades and increased penetration of Super VIP (SVIP) services [1] - Additionally, another report upgraded Tencent Music's rating from "Hold" to "Outperform," increasing the 12-month target price from 66 HKD to 106 HKD based on a revised price-to-earnings ratio of 25 times [1]
美股异动｜腾讯音乐盘前续涨2.6% H股盘中创新高 绩后获多家大行上调目标价